Issue - meetings

The Director of Finance and Business Improvement outlined that whilst the Council had always had a Capital Programme and reported on it this was the first year for the new CIPFA requirement to pull it altogether in this format.

The Council’s investment in assets had a twofold aim – to generate a return for the Council and to support the local economy by investing in the Borough.  One consideration for Members was whether the Strategy was suitably ambitious.  P67 of the report set out the financing costs of the Capital Strategy in terms of revenue.  The position provided a healthy level of interest cover and arguably there was scope to go to a higher level.

A briefing session on the Capital Strategy and Risk Strategy was requested prior to further consideration of the items in order to ensure Members were informed.

It was noted that the constitution allowed money to be moved within the Capital Programme but that decision would need to be taken by Policy and Resources Committee.

RESOLVED:That

1.  The Capital Strategy set out at Appendix A of the report of the Director of Finance and Business Improvement be recommended to Council; and

2.  The Capital Programme at Table 1 of the Capital Strategy be recommended to Council.

Voting:  Unanimous